2 months ago
EXCLUSIVE: We understand that Row K’s apical trio of executives –President Megan Colligan, Chief Revenue Officer Mo Rhim and Chief Marketing Officer Ben Carlson– are successful nan midst of steering their boats retired of nan Media Capital Technologies’ subsidiary.
The trio are presently negotiating their exits according to sources pursuing news that Row K is money-strapped. Meanwhile, Media Capital Technologies is trying to people correct their boat, and looking to prioritize much commercialized projects complete arthouse selections. The genitor institution are successful progressive discussions pinch executives to backfill nan rotating suite. We understand Row K Head of Distribution Steve Garrett is staying.
In addition, we perceive that Row K’s TIFF acquisition, nan Maude Apatow critically acclaimed drama (91% caller connected Rotten Tomatoes), Poetic License, is searching for a caller distributor. We’re told that Row K cannot fulfill their ineligible obligations connected nan pic’s acquisition. Deadline first told you that Poetic License was snapped up by Row K for $5.5M-$7M. However, that money is obscurity to beryllium seen. Originally, Row K group a May 15 merchandise day for nan movie timed to nan 3rd play of HBO’s Euphoria, in which Apatow stars. But past astatine nan extremity of February, Row K pushed nan Cooper Hoffman, Leslie Mann, Method Man and Nico Parker assemblage drama to Oct. 16. There was a bidding warfare to statesman pinch connected nan WME Independent sold Poetic License, truthful uncovering a caller location for nan show crowd pleaser shouldn’t beryllium hard. Colligan was a large champ, we hear, of Poetic License.
The landslide present astatine Row K comes successful nan aftermath of their different TIFF pick-up, Gus Van Sant’s Dead Man’s Wire starring Bill Skarsgard and Al Pacino, failing astatine nan container agency pinch a $2.2M astatine nan home B.O. Row K reportedly shelled retired $5M for North American and spent conscionable nether different $5M to marketplace nan pic and push it for Oscars. The filmmakers went pinch Row K fixed their excitement to get nan movie retired quickly. We understand that nan workplace had to spell accelerated pinch a theatrical merchandise truthful arsenic to raise liking among financiers for nan remainder of nan slate. While Dead Man’s Wire screened for voters during nan fall, it opened connected Jan. 9. How did it miss? Everyone progressive successful nan movie recovered retired precocious successful nan crippled that Skarsgard wouldn’t afloat beryllium disposable to beforehand nan movie fixed that he was shooting nan movie, Lords of War.
In respect to Row K’s money dilemma, peculiarly station Dead Man‘s Wire, we were pointed to a connection from Woodrow and Singh provided connected Friday: “Row K’s merchandise of Dead Man’s Wire has provided an important opportunity to measure and refine our strategy arsenic a caller entrant building successful a highly competitory marketplace. Like galore early-stage companies, we moved quickly to found a slate and are now taking a much measured, disciplined attack – prioritizing commercially viable titles, strengthening our soul infrastructure, and aligning our squad accordingly.”
The arthouse business is tricky astatine nan container office. Last autumn saw nan meltdown of respective prestige titles including Smashing Machine, Kiss of nan Spider-Woman and Anemone failing. What’s difficult for a newcomer for illustration Row K versus opportunity a workplace classical explanation is that they’re an indie, making it an uphill conflict to book their trailers in-theaters earlier movies. When you’re a workplace classical label, you don’t person to interest astir booking trailers acknowledgment to nan strong-arm of nan genitor company.
Upcoming for Row K is nan reboot of Cliffhanger connected Aug. 28. Starring Kate Beckinsale and Pierce Brosnan, and directed by Jaume Collet-Serra, we reported nan woody arsenic Row K’s biggest woody to date (we heard it was picked up successful nan 7 digits). There’s besides nan Emilia Jones-Nick Robinson romance Charlie Harper which is group for Sept. 25.
Variety first reported Friday evening astir Row K’s financial meltdown. Colligan and her colleagues person tapped lawyer Bryan Freedman to benignant retired nan Row K dilemma.
Entertainment finance institution Media Capital Technologies, led by Christopher Woodrow and Raj Singh, launched Row K Entertainment conscionable anterior to TIFF. Media Capital Technologies reportedly has a financial backer successful MassMutual, however, precisely really that narration is defined is Byzantine. Media Capital Technologies besides co-funded Lionsgate’s 2024-25 characteristic slate including movies specified arsenic Good Fortune and The Long Walk.
“As is modular successful our industry, definite payments are scheduled successful alignment pinch incoming receivables arsenic portion of prudent moving superior management, and we stay successful progressive connection pinch our partners to guarantee each obligations are met successful a timely fashion. Row K is well-capitalized, continues to support its existing projects, and is focused connected long-term, sustainable maturation pinch a clear accent connected commerciality,” Woodrow and Singh added successful a 2nd statement. The duo didn’t supply immoderate further remark beyond nan 2 statements.
Colligan is simply a storied mobility image manufacture vet who agelong served arsenic Paramount Pictures’ trading czar from 2006-2017. Colligan was nan studio’s Worldwide President of Marketing and Distribution during a three-year period. From 2011 to 2014, she served arsenic nan Head of Domestic Marketing and Distribution and arsenic Co-Head of Domestic Marketing from 2008 to 2011. She spearheaded and was down galore of nan studios’ campaigns for specified franchises as Transformers, Mission: Impossible, Star Trek, Anchorman, G.I. Joe, Teenage Mutant Ninja Turtles and Paranormal Activity in summation to nan Melrose lot’s Marvel business earlier Disney bought it (Iron Man, Thor and Captain America launched astatine Disney). Such efforts by Colligan spurred a $1 cardinal yearly business for Paramount’s Home Entertainment section arsenic good arsenic respective Oscars. Following her clip astatine Paramount, she was nan President of Imax from 2019 to 2023, cultivating their performance pic biz.
Rhim was nan laminitis and CEO of The Advisory Collective. In summation she was Imax’s main strategy serviceman and SVP of world integer trading astatine Paramount Pictures. She began her profession astatine Google arsenic nan corp’s first caput of manufacture for media and entertainment.
Carlson antecedently served arsenic EVP and wide head of media, sports, and intermezo astatine MarketCast. He besides founded societal media analytics corp Fizziology, which was acquired by MarketCast successful 2017.
